Trade of the Day – USDJPY – Looking to buy dips within the corrective channel
Further upside is expected although we prefer to set longs at our bespoke support levels at 111.60, resulting in improved risk/reward
Browsing Tag
Triangle
EURUSD – Ascending triangle offers a bullish bias
The continued lack of clear direction looks to be forming a bullish ascending triangle pattern on the daily chart. A break of 1.1500 and the measured move target is 1.1775
EURJPY – Large triangle formation offers a downward bias
Mixed trading for the last 42 (trading) days has resulted in a large symmetrical triangle being posted on the daily chart. This formation has a bias to break to the downside
AUDJPY – Breaks the triangle formation to the downside
Mixed trading for 9 days had produced a symmetrical tringle formation. This pattern has now been broken to the downside. Reverse trend line resistance is located at 81.88. Bespoke resistance at 81.95